It occurred to me after I had finished getting information for quotes from a man who only had half a diaphragm that gave him less than perfect pulmonary function on that side, coming right on the heels of getting life insurance approval on an HIV+ case, which was preceded by binding coverage for a company CEO to have $1 million in coverage to do counter terrorism work in Iraq and helping another client find affordable life insurance even though he had complicated his recreational scuba certification risk by also getting an advanced open water, deep dive and Nitrox certifications (which he doesn’t use), that I will never, ever know everything there is to know about my job.
I suppose to some extent that is true of anyone that has a challenging career, but for every impaired risk in life insurance it seems there are a hundred variations and every life insurance company views the risk and variations differently. We’ve talked often about how important it is to shop virtually every case through all of our company underwriters via email, and then there are cases where an email just can’t do the situation justice. Then we call an underwriter we know to be strong in the impairment and talk it through and find out what more information would be helpful before we shop it.
I guess the good news for clients is that we will never be cocky enough to just shoot from the hip on life insurance quotes and try to explain later why our WAG (Wise Aged Guess) at what they might be paying was wrong. I get calls from clients all the time who have been quoted something (usually the best rate class) by another agent and the price doubles or triples after the application and exam, and well, those life insurance clients aren’t happy campers. Agents know that companies are open to giving trial quotes before an application because the companies know that if the original quote is the same as the approved offer the case gets placed. But most agents are so anxious to get applications that they don’t want to ask you to wait a few days for an accurate quotes. Then when customers get unjustified bad news, well, they call us and usually tell the other agent to hang it in their ear.
So, whether you use us or not, make sure your agent can back up their quote by showing you an email from an underwriter or showing you where in their underwriting guidelines they came to the conclusion that the price they quote should get approved. And don’t let them tell you that close counts. If you weigh 2 pounds more than the guidelines say you should, unless you’ve talked to an underwriter ahead of time and they agree to cutting some slack, you won’t get it. If you have questions call or email us. We can help.
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